E*TRADE finally lands an IPO, but so what?: Its fees are similar and its reputation is yet to be established
When E*Offering - the investment banking affiliate of on-line broker E*Trade Group Inc. - set up shop last January, many observers thought the firm posed a serious threat to Wall Street's lucrative initial public offering business.
After all, Newport Beach, Calif.-based E*Offering was breaking ranks with the big New York firms by pledging to compete on price. E*Offering was willing to trim the 7%-of-proceeds fee that has long been standard for all IPO underwritings.
Ten months later, E*Offering has finally snared its first IP
Learn more about reprints and licensing for this article.
